7 Key Packaging Tips for New Business Startups
Start-ups find it difficult when developing packaging for their very first product. Faced with a myriad of factors such as budget, time and promotional value, start-ups must be deliberate when launching their product into market.
Capturing the attention of target audiences and grabbing a significant chunk of market share is a constant battle. The battle becomes even more fierce when you are operating in the industry of Fast Moving Consumer Goods (FMCGs). One of the easiest and cost-effective solutions to effectively captivate their target market is through their product packaging. However, the right packaging for your product is not only important for establishing your product and brand, but for the overall success in the marketplace.
Packaging can make all the difference especially when you are looking to give your brand an exclusive image and personality. A beautifully designed package not only lends an attractive face to the brand but is an integral part of overall marketing efforts.
When your target prospects see your product for the first time, the product packaging should entice them towards your brand in the aisle and should indicate a promise which only your brand can fulfill. Good packaging is not only visually appealing; it also tells the story of your product in the most compelling manner.
But what exactly should your product packaging say? Here are 7 key packaging tips to help you get the attention of target prospects and make a lasting impression.
Small to medium sized enterprises may have a limited budget and may lack the visibility of larger brands; however, they can still stand out on the shelf by thinking outside the box – literally. While most small to medium sized businesses often see packaging as a cost they should cut down on, they may be overlooking its potential to help boost product sales. Packaging should be seen as an attractive but silent salesperson communicating your message to the people.
Packaging, when used strategically, can help you convert prospects into customers in just about any setting. Customers are drawn to products that look attractive and inviting. Visually compelling product packaging has the ability to make your product stand out from the rest on the shelf and promote your brand message to your target audience. When selecting your product packaging, it is important to take into consideration the product persona and product positioning as your packaging can mean the difference between the success and failure of your brand.
Manage Your Costs
While you may want to select the most attractive looking packaging for your products, you need to take into consideration the costs involved in the process especially if you are a startup. Consider simplistic options and packaging designs in order to keep your cost-per-unit of your boxes lower. Always remember, there are a number of ways to get visually compelling packaging for your product without breaking the bank.
Custom boxes can be pretty expensive. So come up with a design that is efficient, cost effective, and requires the least amount of material. Furthermore, it is a good idea to place bulk orders because when you buy a single package or few chosen packages, they cost more. On the contrary, in bulk options you can purchase more packages in less money since these save die-cutting process and printing inks. They also reduce the cost of traveling expenditures, which is a bonus for you.
Always remember, companies that have physical stores are bound to charge you more than online stores. Online stores are cost efficient because they have their niches set up and cater to certain types of packaging only. This makes them the expert in their field, allowing them to charge less from their clients while giving out better packaging options. Furthermore, there are a number of cost-effective options available for businesses having limited resources. These options are not only cost-effective; they are visually compelling as well. All you need to do is find out packaging suppliers that offer such options.
Consider Where You Be Selling Your Product
Another important aspect to consider when selecting product packaging is: your product market. Will you be selling your products online or will they be stocked in shelves in local stores? Carefully consider all the aspects of your market and your marketing strategies that are best suited for that market. For instance, if your business aims to ship products directly to consumers, you might not need fancy packaging. However, if your products are to be displayed on store shelves, selecting a visually compelling product packaging would be your best bet.
When you order your package, make sure you talk to the provider to give you expert advice. Good packaging design companies have structural engineers who pre-test their packaging products so that no harm comes to your products or the people using them. From helping you select the right design to the order delivery, their customer support service will be available for your help 24/7 to make sure that the final results live up to your expectations. They also offer you a range of customization options to make sure the product packaging suits your needs and preferences.
Manage Your Inventory
For startups and small to medium sized businesses, it is extremely important to consider different aspects to keep your costs under control. Managing your inventory is one of the most important aspects of your business, especially because it is directly linked with sales. Always discuss your stocking options with your inventory manager to make sure you are utilizing your resources in the most cost-effective manner. Ordering larger quantities of boxes is one of the best ways to save on costs. You can also consider options to rent public storage to stock your inventory.
Assess Your Inherent Risk
While bulk ordering is the best option to save on costs, you need to consider risks involved with ordering excessively larger quantities. A safer option would be to consider short-run options since there is a chance of businesses not picking up the way they anticipated.
Also, before placing a bulk order, it is always better to ask for samples. Never ever make the mistake of placing a huge order without first seeing what the end product would look like. Discuss in advance with the company how you want to see a sample first because once you lose money on an end product you don’t like, it is money lost forever.
Pre-Made Boxes And Labels
Another cost-effective way of saving on costs is to select pre-made boxes and getting customized labels designed. This is not only a cost-effective option; it will also help you mitigate your inherent risk. Be it text, your company logo, text or graphics, business labels and stickers are a cost effective way of promoting your business in the best possible light. Ease of use, durability and cost effectiveness is another factor that makes business labels a popular option. Also, they are perfect for your branding campaigns, especially if you’re tight on budget.
Find The Right Box Or Packaging For Your Product
In order to stand out, businesses need to design and select a unique packaging design, adding their logo, text, product details and other information. A good product packaging design not only reflects a business’s positioning, it communicates your visual identity. Nevertheless, selecting product packaging can be a challenging task especially for startups. The biggest challenge faced by most startups is that they may not have the resources to invest in expensive packaging options.
With a plethora of options available, you need to find the most appropriate box to ensure efficient shipping costs and secure packaging that offers superior protection to your products. If you need to ship your products to your customers, you need to check the boxes for rigidity to ensure they won’t break apart during shipment. On the other hand, boxes that are placed on store shelves need to impress your audience; however they need to be practical and functional as well.
Because Packaging Matters!
Product Packaging can serve as an incredibly powerful marketing tool for showcasing your business. Stylish, elegant and catchy, these have the power to magically attract the attention of your target audience while providing detailed information about your products.
Both small and big businesses share a common goal—to differentiate their product from others in terms of features and quality, and when in terms of branding: packaging.
Businesses have to design eye-catching packaging for their products to increase the probability of a customer making a buying decision based solely on its packaging. Don’t forget, the packaging for your product says a lot about your company. It can be the making or breaking factor for your startup. So be very careful with what custom design you come up with and have it tested before usage.